When cross-category classifieds company Quikr announced the acquisition of home services startup Zimmber earlier this month, it marked the firm’s eleventh buyout in less than two-and-a-half years.
The biggest change for technology startups came on November 8, when the government announced its decision to ban currency notes of Rs 500 and 1,000. Suddenly technology became a large driver for commerce. While retail sales in pockets dropped up to 50%, sales for e-tailers fell 20%. It was also a year of large cultural shifts – more number of buyers shopped online than ever before, and demonetisation added to the drive.
Ravi Bhaskaran, Twitter’s Platform Partnerships Head, South Asia, quit his position on Wednesday.
Times Internet Ltd (TIL), the digital business arm of the country’s largest media company Bennett Coleman and Co. Ltd (BCCL), has set an ambitious target of achieving $1 billion in revenue in five years or by March 2022. The company recently said it was on course to clock in Rs 1000 crore ($150 million) in net revenue this financial year.